MACDHistogram Crossover

Script Title:
MACD Histogram Zero-Cross with 9/20 EMA Overlay
Script Description:
This indicator is a combined trend and momentum tool designed to identify market shifts directly on the price chart. It tracks MACD Histogram crossovers while providing 9 and 20 Exponential Moving Average (EMA) filters for trend confirmation.
How it Works:
The script monitors the MACD Histogram (12, 26, 9) for "Zero-Cross" events and labels them for maximum clarity:
Green "L" (Long/Bullish): Appears below the candle when the Histogram moves from negative to positive. This indicates a shift toward bullish momentum.
Red "P" (Put/Bearish): Appears above the candle when the Histogram moves from positive to negative. This indicates a shift toward bearish momentum.
Trend Filter Integration:
To help filter out "fake" signals in choppy markets, the script includes two essential EMAs:
9 EMA (Blue): Fast-reacting line for short-term price action.
20 EMA (Orange): Medium-term trend line.
Trading Logic:
Bullish Setup: Look for the green "L" when price is trading above the 9 and 20 EMAs.
Bearish Setup: Look for the red "P" when price is trading below the 9 and 20 EMAs.
Exit/Caution: If an "L" or "P" appears against the EMA trend, it may signal a period of consolidation or a potential reversal.
Features:
Clean Visuals: Signal letters are sized small to avoid obstructing price action.
Real-time Overlay: Calculates MACD momentum in the background while keeping your main chart focused on price.
Versatile: Works on any timeframe (Intraday, Daily, or Weekly).
Disclaimer: This script is for educational purposes and should be used as part of a comprehensive trading strategy. Always practice proper risk management.